Press release
Portable Media Player Global Market Report 2024 - By Growth, Demand, Size, Share, Forecast To 2033
Portable Media Player
The Business Research Company offers in-depth market insights through Portable Media Player Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The portable media player market size has grown strongly in recent years. It will grow from $24.89 billion in 2023 to $26.86 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to pricing and accessibility, customization and user experience, rise of MP3 format, apple's iPod impact, shift from physical media.
The portable media player market size is expected to see strong growth in the next few years. It will grow to $35.99 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to innovation in features, market competition and pricing strategies, customization and enhanced user experience, focus on compact and lightweight designs, shift in consumer preferences. Major trends in the forecast period include streaming services dominance, smartphone integration, wireless connectivity, increased storage capacity, improved battery life.
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Market Segmentation:
The portable media player market covered in this report is segmented -
1) By Type: Audio, Video
2) By Industry: Flash-Based Players, Hard Drive-Based Players, Mp3 CD Or DVD Players, Networked Audio Players, USB Host Or Memory Card Audio Players
3) By Distribution Channel: Hypermarkets And Supermarkets, Electronic Stores, Online
Major Driver - Surging Consumer Purchasing Power Fuels Growth In The Portable Media Player Market
Increasing consumers purchasing power led to a rise in spending on entertainment products and is expected to propel the growth of the portable media player market going forward. An increase in purchasing power is strongly correlated with entertainment products. Because of the increase in purchasing power, people will buy more entertainment products, including TVs, DVDs, and portable media players. For instance, according to the US Bureau of Economic Analysis, in the United States, consumer spending increased to $13,916 in July 2022 from $13,818 in January 2022. Therefore, increasing consumers' purchasing power led to a rise in spending on entertainment products, which is driving the growth of the portable media player market.
Competitive Landscape:
Major companies operating in the portable media player market report are LG Electronics Inc., Apple Inc., Samsung Electronics Co Ltd., Microsoft Corporation, Dell Technologies Inc., Sony Corporation, Lenovo Group Limited, Haier Group Corporation, Toshiba Corporation, Philips Electronics N.V., SanDisk Corporation, PoGo! Products Ltd., Eros Digital Home Ltd., Insignia International Pvt Ltd., PNY Technologies Inc., Creative Technology Ltd., Iriver Inc., Cowon Systems Inc., Korean Cowon Systems Inc., FiiO Electronics Technology Co, Archos S.A, Ematic Solutions, Coby Electronics Corporation, Pioneer Corporation, Questyle Audio Engineering, Teclast Electronics Co Ltd., Sonicblue Inc., Shenzhen Shanling Digital Technology Development Co Ltd.
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Top Trend - Rising Emphasis On High-Quality Portable Music Players
Major companies operating in the portable media player market are increasing their focus on introducing high-quality portable music players to gain a competitive edge in the market. A portable music player is a compact electronic device designed for on-the-go music playback, typically allowing users to store, manage, and play digital audio files. For instance, in March 2023, Sony Group Corporation, a Japan-based company, launched its new flagship Walkman NW-ZX707 portable music player in India. The Walkman comes with a 5-inch display, runs on Android 12, and offers up to 25 hours of battery life. The device also features a 720p TFT color display, charges over USB Type-C, and supports storage expansion. Additionally, it uses edge-AI and Digital Sound Enhancement Engine (DSEE) Ultimate technology to upscale compressed digital music.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Portable Media Player Market Characteristics
3. Portable Media Player Market Trends And Strategies
4. Portable Media Player Market - Macro Economic Scenario
5. Portable Media Player Market Size And Growth
…..
27. Portable Media Player Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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